StockMarketWire.com - Plant Health Care report a strong financial performance in FY 2015, in line with expectations. Progress with its Plant Response Elicitor technology (PREtec) platform has accelerated.

HIGHLIGHTS

- Revenue of approximately $7.5m; growth year over year at constant currency was 15%; 9% growth in US$, largely due to the weakness of the Mexican peso

- Sales of the core Harpin products increased by 22%, driven by strong sales in the United States and Europe; Harpin and Myconate® products represented 57% of sales in 2015 (2014: 53%)

- Gross Margin increased to 62% in 2015 from 51% in 2014

- Cash and cash equivalents at 31st December 2015 were $8.4m

- Revenue growth in Mexico of approximately 14% in local currency

- In conjunction with a significant increase in R&D investment to $5.7m in 2015, the overall operating result was a loss of approximately $7.3m in 2015 as compared to $6.1m in 2014

- A roughly two-fold increase in sales to Sym-Agro, a key partner in the Pacific North West

- Achieved the Company's first product registration in Brazil; now preparing for a launch in sugar cane






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